Bank of Baroda to acquire 51% stake in two JVs from UniCredit

Bank of Baroda to acquire 51% stake in Baroda Pioneer Asset Management Company and Baroda Pioneer Trustee Company from UniCredit SPA

Bank of Baroda has executed a share purchase agreement with UniCredit SpA (UniCredit), Baroda Pioneer Asset Management Company and Baroda Pioneer Company on 28 December 2017.

Pursuant to the SPA, the Bank will be purchasing from its joint venture partner, UniCredit, their entire equity stake of 51% in the AMC and the Trustee Company. Pursuant to the acquisition, the Bank will become the sole shareholder of the AMC and the Trustee Company and the sole sponsor of the Baroda Pioneer Mutual Fund.